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Kinder Morgan celebrates 10 years

  |   Feb. 14, 2007 at 10:45 AM
HOUSTON, Feb. 14 (UPI) -- Houston-based Kinder Morgan Energy celebrated its 10th anniversary, having delivered an average annual return of 30 percent to shareholders over the decade.

The pipeline group has more than 27,000 miles of pipeline and about 150 terminals.

The company has focused on being "lean and frugal ... and our portfolio of primarily fee-based assets, which is instrumental to our country's energy infrastructure, continues to produce strong, reliable cash flow," Chief Executive Richard Kinder said Wednesday.

Kinder Morgan expects to declare distributions of about $1.4 billion this year, compared to $17 million 10 years ago.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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